South America’s leading clubs have warned the continent’s beleaguered football body that "they will pull out of one of the sport’s top tournaments if they do not get a 150 percent increase in income from the Copa Libertadores," according to Tariq Panja of BLOOMBERG. Clubs "are balking" at an offer of 40% increase in prize and participation money after the regional body CONMEBOL agreed to a new contract with Fox Sports in November. The U.S. Justice Department in May "charged that a previous agreement to televise the event involving a wholly separate group of companies had been based on bribery." After several club leaders met CONMEBOL's exec committee close to the Paraguayan airport, Paraguayan club Olimpia President Marco Trovato said, "We have a deadline of Feb. 3. If they don't give us the new prices, we don't play the Libertadores Cup." Trovato said that "the new television contract for the Libertadores and the second-tier Copa Sul-Americana is worth about" $135M. He said that that represents "at least double the amount of the previous agreement." Trovato: "Right now they are giving 40 percent, but they have to bring that money up to 150 percent because they don't need that extra money." South America produces "some of the best" football players, yet its clubs are "unable to keep hold of them because of the financial power of rivals in Europe." Argentina's Boca Juniors President Daniel Angelici said, "This money is for the work of the clubs -- we need to be able to retain our players" (BLOOMBERG, 1/25).
